U.S. retail surges Final Edition

"If you were worried about recession, you would be considerably less worried today," said Bill Dudley, chief economist at Goldman Sachs. Dudley said his firm is revising its economic forecast to show a "bounce" in growth for a quarter or two as confidence improves, but he also ca...

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Bibliographic Details
Published inWindsor star
Main Author John M. Berry The Washington Post
Format Newspaper Article
LanguageEnglish
Published Windsor, Ont Postmedia Network Inc 12.04.2003
Subjects
Washington
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Summary:"If you were worried about recession, you would be considerably less worried today," said Bill Dudley, chief economist at Goldman Sachs. Dudley said his firm is revising its economic forecast to show a "bounce" in growth for a quarter or two as confidence improves, but he also cautioned that growth could slow again until business investment in equipment, new plants and other structures starts to rise noticeably, something Goldman Sachs does not think will happen until next year. "You know energy and motor vehicle prices are going to go the other way," Dudley said, adding that prices on two other types of goods that rose sharply last month, prescription drugs and tobacco products "are not going to keep going up."